THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of July 28, 2026 No. 111

About approval of Rules of use of instruments of settlement of bank

According to item 4 of article 93 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" the Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of use of instruments of settlement of bank.

2. Recognize invalid some resolutions of Board of National Bank of the Republic of Kazakhstan, and also structural elements of some resolutions of Board of National Bank of the Republic of Kazakhstan and resolutions of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market in the list according to appendix to this resolution.

3. To provide to department of bank regulation in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by the subitem 2) of this Item.

4. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

5. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of July 28, 2026 No. 111

Rules of use of instruments of settlement of bank

Chapter 1. General provisions

1. These rules of use of instruments of settlement of bank (further - Rules) are developed according to item 4 of article 93 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and determine procedure for use of instruments of settlement of the bank which is in the settlement mode, including procedure for enforced sale of bank shares, the settlement which is in the mode, to the new investor, procedure for forced restructuring of obligations of the bank which is in the settlement mode, transaction procedure on simultaneous transfer of assets and obligations of the bank which is in the settlement mode, to other bank (other banks), procedure for creation and licensing of stabilization bank, the minimum size and procedure for forming of its authorized and own capitals, order of registration of release of the announced shares and cancellation of the announced shares of stabilization bank procedure for management of stabilization bank, and also procedure for making by stabilization bank of transactions concerning which making special conditions, procedure and conditions of transfer of assets and obligations of the bank which is in the settlement mode, to stabilization bank and also transfers of assets and liabilities by stabilization bank to other bank determined by authorized body, criteria for evaluation for the purpose of determination of depositors and (or) other creditors of bank whose actual losses as a result of application to bank of the mode of settlement exceeded losses which they would suffer in case of involuntary liquidation of bank without application of the settlement mode to it, and also requirements to contents of the report on such assessment are established.

2. Use of instruments of settlement of the bank which is in the settlement mode is based on the following principles:

1) providing going concern of bank, including carrying out crucial banking and other activities;

2) prevention of origin and distribution of systemic risks of financial system;

3) minimization of expenses of the government budget in case of use of instruments of settlement;

4) protection of the rights and interests of depositors and creditors of bank;

5) observance of priority of satisfaction of requirements of creditors according to article 123 of the Law on banks;

6) non-admission of deterioration of the situation of creditors in comparison with their provision in case of involuntary liquidation of bank without use of instruments of settlement;

7) ensuring transparency of settlement process and possibility of independent assessment of assets and liabilities of bank with involvement of the specialized organizations, audit and estimative companies.

3. In case of use of instruments of settlement and implementation of powers on settlement authorized body:

1) is guided by the purposes and the principles of settlement, the stipulated in Article 92 Laws;

2) taking into account the circumstances important for use of instruments of settlement chooses the instruments of settlement providing settlement goal achievement;

3) does not allow unreasonable increase in the expenses connected with carrying out settlement;

4) takes measures for non-admission of unreasonable reduction in cost of assets, except as specified, when such decrease is necessary for settlement goal achievement.

The purposes of settlement are equivalent and are provided on the basis of their approved realization, proceeding from nature, conditions and scales of implementation of settlement of bank, with respect for the principles of proportionality, efficiency and stability of the financial market.

4. The concepts used in Rules:

1) transaction on transfer of assets and obligations of bank - transaction on simultaneous transfer of assets and obligations of the bank which is in the settlement mode, to other bank (other banks);

2) the plan of forced restructuring - the document developed by authorized body, containing list of obligations of bank, subjects of restructuring, measure for write-off, converting or change of conditions of obligations, coefficients of converting of obligations in bank shares, the predicted financial results of restructuring, distribution of responsibility for execution of the plan, terms and stages of implementation of the plan;

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